In a remarkable feat, a mining company moved a 113-year-old timber church building nearly two miles away in Kiruna, Sweden, part of a town relocation project due to iron ore mining expansion. The project, expected to take over a decade, offers residents monetary compensation or a new house to move.

LKAB, the mining company behind the town relocation, has been mining iron ore in Kiruna since the early 20th century. They recently discovered a significant deposit of rare earth elements, exceeding 1 million tons of rare earth oxides, crucial for green technology and electric vehicles.

Europe’s rare earth discoveries in countries like Finland and Norway aim to diversify the mineral supply chain away from China’s dominance, particularly in the production of magnets. Analysts warn of the vulnerability of global supply chains in strategic sectors due to China’s high market concentration in rare earth mining and manufacturing.

Read more at Yahoo Finance: An Entire Arctic Town Is Being Moved in Europe’s Minerals Expansion